EUR/USD Intraday:under pressure.
Pivot:1.0985
Our preference: short positions below 1.0985 with targets at 1.0960 & 1.0950 in extension.
Alternative scenario: above 1.0985 look for further upside with 1.1000 & 1.1020 as targets.
Comment: the RSI lacks upward momentum.
GBP/USD Intraday: watch 1.2240.
Pivot:1.2315
Our preference: short positions below 1.2315 with targets at 1.2265 & 1.2240 in extension.
Alternative scenario: above 1.2315 look for further upside with 1.2335 & 1.2355 as targets.
Comment: the RSI is bearish and calls for further downside.
AUD/USD Intraday:towards 0.6705.
Pivot:0.6750
Our preference: short positions below 0.6750 with targets at 0.6720 & 0.6705 in extension.
Alternative scenario: above 0.6750 look for further upside with 0.6765 & 0.6775 as targets.
Comment: a break below 0.6720 would trigger a drop towards 0.6705.
USD/JPY Intraday: bullish bias above 107.10.
Pivot:107.10
Our preference: long positions above 107.10 with targets at 107.45 & 107.60 in extension.
Alternative scenario: below 107.10 look for further downside with 106.90 & 106.75 as targets.
Comment: even though a continuation of the consolidation cannot be ruled out, its extent should be limited.
Gold spot Intraday:capped by a negative trend line.
Pivot:1500.00
Our preference: short positions below 1500.00 with targets at 1488.00 & 1482.00 in extension.
Alternative scenario: above 1500.00 look for further upside with 1506.00 & 1512.50 as targets.
Comment: the RSI is bearish and calls for further decline.
Any information contained in this report should not be deemed to constitute investment advice and should not be relied upon as the basis for a decision to place a trade, or as the basis for any financial or investment decision.
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